NORBIT Shatters Records in Q2, Unveils Ambitious Plan to Double Revenue by 2030

TRONDHEIM, NORWAY – August 13, 2026 – Global technology provider NORBIT ASA today announced a dual triumph of present performance and future ambition, reporting record-breaking second-quarter financial results while simultaneously unveiling a bold strategic plan to more than double its revenue by 2030.

The Trondheim-based company posted its strongest quarter to date with revenues of NOK 831.6 million, a 22 percent increase from the same period last year. This performance, coupled with a robust EBIT margin of 25 percent, underscores the power of its diversified business model, which spans maritime technology, wireless connectivity, and product innovation.

“Q2 2026 marked another record quarter for us at NORBIT,” said CEO Per Jørgen Weisethaunet in a statement. “The quarter demonstrates the robustness of our diversified business model. Continued growth in Connectivity and PIR, combined with solid profitability in Oceans, enabled us to deliver record revenues and high profitability at group level.”

A Record Quarter Fueled by Diversification

NORBIT's impressive top-line growth was a testament to the strength across its varied segments. The Connectivity division was the standout performer, reporting a remarkable 47 percent surge in revenue to NOK 250.0 million. This growth was primarily fueled by increased deliveries of GNSS On-Board Units for satellite-based tolling systems. However, the segment's success was tempered by margin pressure, with gross margin declining due to foreign exchange movements and a significant spike in memory chip costs—a headwind noted by management.

The Product Innovation & Realization (PIR) segment, which offers R&D and manufacturing services, also delivered strong results. It saw revenues climb 25 percent to NOK 367.1 million, driven by sustained demand from key customers in the defense and security sectors. The segment maintained a healthy EBIT margin of 22 percent.

Meanwhile, the Oceans segment, NORBIT's foundation in maritime technology, demonstrated stability and high profitability. Revenues remained largely in line with the previous year at NOK 236.2 million, but the division posted an exceptional EBIT margin of 33 percent. While growth was flat, attributed in part to a softer equipment rental market, its consistent revenue and robust profitability provided a solid anchor for the group's overall performance.

Despite the record results slightly exceeding analyst expectations, the market's reaction was muted, suggesting investors may be weighing the strong growth against the margin pressures in the Connectivity segment. The company's cash flow from operations remained strong at NOK 275.2 million, reinforcing its solid financial footing.

Charting an Ambitious Course to 2030

Beyond celebrating the record quarter, NORBIT's leadership used the occasion to chart a decisive course for the future. The company announced an ambitious strategic and financial plan targeting NOK 6.0 billion in revenue by 2030. Crucially, this target is based on organic growth, signaling immense confidence in the scalability of its existing business lines. The plan also aims to maintain a high EBIT margin between 20 and 25 percent and a return on capital employed exceeding 30 percent.

“Our 2030 ambitions, announced today, are anchored in the culture that has shaped NORBIT over three decades,” Weisethaunet explained, referencing the company’s core purpose to 'Explore More'.

This long-term strategy is not solely reliant on internal expansion. The company explicitly stated it will “continue to pursue value accretive strategic acquisitions.” This dual approach of fostering organic growth while actively seeking M&A opportunities is already in motion. The recent acquisition of Water Linked, a provider of underwater communication and positioning systems, completed on July 1, is a prime example. While the financial contribution from this acquisition is excluded from the 2026 guidance, it strategically strengthens the Oceans segment and demonstrates NORBIT’s commitment to its acquisition strategy.

For the full year 2026, NORBIT maintained its guidance of revenues between NOK 2.9 and 3.1 billion with an EBIT margin of 20 to 23 percent, indicating confidence in its operational execution for the remainder of the year despite some market uncertainties.

Innovation and Talent: The Core of the 'Explore More' Vision

Underpinning both the current success and future goals is what NORBIT describes as a culture of market-driven innovation and talent development. The company’s vision, “To be recognized as World Class - Enabling people to Explore More,” is more than a tagline; it is the operational principle that connects its seemingly disparate segments.

From developing sophisticated multibeam sonars for mapping the ocean floor to creating robust wireless tags for tracking assets in harsh environments, the common thread is a focus on creating tailored, high-performance technology that solves specific customer challenges. This requires a deep understanding of niche markets and the engineering talent to execute on complex designs.

Weisethaunet emphasized this point, stating, “In a world where technology enables significant efficiency gains across disciplines, we also recognise that attracting the right people and continuing the Refinement of talents will remain at the core of how we build NORBIT’s future.”

This philosophy has allowed the company, with its approximately 750 employees, to build a global sales and distribution platform and compete effectively in specialized, high-barrier-to-entry markets. By fostering a strong commercial and entrepreneurial mindset, NORBIT has transformed from a Norwegian startup into a global technology powerhouse, a journey it now plans to accelerate significantly on its path to 2030.